DRIFT Energy started on a summer walk with my son, then six years old, who pointed to a wind turbine on the horizon and asked why it wasn’t turned on. I explained that there was no wind to drive it, to which he replied, “Then why don’t they make one that follows the wind?”.

I had spent my whole career solving problems, whether they be engineering, business, or technology related. This was a challenge that I felt I had to rise to, one that was bigger than all the rest. 

Following the wind

I describe DRIFT as the most capital-efficient, clean tech startup in the world. We offer a new class of mobile, renewable energy that is independent of power grids. 

High performance sailing vessels harness deep ocean wind to produce green energy at sea and deliver it globally. They do this using an AI-enabled vessel routing algorithm that enables them to find and stay in optimum, weather conditions. 

In a nutshell, our energy harvesting yachts don’t wait for the wind, they follow the wind.

With the ocean covering 70% of the globe, I believe that this is a planet-scale solution to the myriad of challenges faced by global communities grappling with the clean energy transition. We are viable in more places and can produce more power, more of the time. 

Our hardware assets, our sailing vessels, are easier to maintain than other offshore infrastructure assets, such as wind turbines. The complete solution is crucially up to ten times faster to implement. 

Having said that, I absolutely see our technology as an ‘and’ solution, creating a faster, viable option that complements existing renewable energy sources such as static offshore wind and solar. 

World’s first net-positive ship

DRIFT is backed by leading deep tech venture capital investors Octopus Ventures, Founders Factory, and the Blue Action Lab. We also won a major grant from Innovate UK. These investments are a vital step in developing and building what I believe will be the world’s first net positive ship.

We refer to our ships as ‘fishing vessels for energy’. As they move through the water, turbines on the underside of the hull convert kinetic energy into electric energy that feeds an onboard electrolyser. Through the process of electrolysis, water is then split into green hydrogen and oxygen. 

Solar panels onboard also harvest clean energy to power the ship’s batteries, so we essentially leave nothing behind but pure oxygen.

Green hydrogen can be used to power many different sectors, including grid energy, land based and seagoing transport, off-grid net zero hotel complexes, shipping,  and heavy industries such as foundries and distilleries as just a few examples. 

Navigating startup seas

We first demonstrated the production of green hydrogen on a demonstrator yacht at SailGP in 2022, after which an article was published about DRIFT in The Sunday Times – a proud moment. 

As well as numerous high points and accolades along the road so far, we have also confronted the same challenges that all startups face. Namely, balancing huge ambitions with limited resources. 

Raising capital, recruiting talent, and onboarding customers, all while trying to develop a new technology and build a scalable positive business is hard!

What made a real difference for the team at DRIFT is the sheer volume of goodwill that has come to us from public, industry, and government stakeholders. There is just something about that DRIFT lightbulb moment – when you get it, you really get it.  

By Ben Medland, founder and CEO of DRIFT Energy

Ben Medland set up DRIFT Energy Ltd to help tackle what is the most important issue currently facing humanity – climate change. Prior to founding DRIFT, Ben spent 17 years at Accenture as UK Lead Partner, Digital & Data Strategy Practice. Leaving as Managing Director, Ben has a wealth of experience and extensive networks across numerous industries, including energy and utilities, financial services, technology and the public sector. He started his early career with BAE Systems, who sponsored his Masters in Systems Engineering at Loughborough University. Ben also holds data science qualifications from Northwestern University and holds Isambard Kingdom Brunel as one of his heroes.

Learn more about DRIFT Energy

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“We’ve got systems everywhere,” one executive said to me, “but I still feel like I’m managing in the dark.” 

That moment has stayed with me, because I’ve heard versions of it again and again. 

When I founded FYLD, it wasn’t to build another piece of fieldwork software. It was to fix a deeper problem I’d seen across infrastructure, utilities, and construction for years: the people doing the hardest highest-risk work were operating without real-time support – and those trying to lead them were doing so with limited visibility and delayed data. 

The more time I spend in these conversations, the clearer it becomes: so many of the risks we’re talking about today in construction can be solved. But it takes a shift in mindset; one that prioritises visibility, accountability, and agility, not digitisation for its own sake. 

It means using technology like AI, not as a trend, but as a practical way to empower teams, prevent problems, and make faster, better decisions. 

After two decades working across infrastructure, operations, and data, here are six of the most common risks I see every day that could be prevented with better visibility — and what we’ve learned about solving them at FYLD. 

1. Managers are running sites from the rearview mirror

Construction work is fast-moving and unpredictable. But decisions are often made based on what happened yesterday. Or, worse, what someone remembers over the phone. 

That’s where AI and the right technology can fundamentally change how decisions are made. For our customers using FYLD, instead of waiting on delayed updates or relying on memory, managers can see the actual conditions on site as the job begins. 

A short video captured by the crew could be analysed instantly, flagging missing safety controls or unusual risks, and giving supervisors the information they need to step in, guide, or approve in real time. 

2. Communication hasn’t kept up with the way work happens now

Hybrid and remote work are now part of the fabric of construction, but most teams are still trying to manage with disconnected tools. Crews use phone calls, WhatsApp, spreadsheets, emails. It works… until it doesn’t. 

AI and modern platforms can close these gaps by embedding communication into the work itself. Instead of chasing down updates, teams collaborate on a single timeline where photos, messages, permits, and blockers all live. AI can flag when something’s off and automate alerts. The right person gets notified at the right moment—with the context to act. That’s how you reduce noise, align faster, and keep work moving. 

3. Safety is still too reactive

Too often, safety is treated as a compliance task rather than a core driver of operational performance. Risk assessments are filled out to satisfy legislative requirements, not to drive smarter behaviour. And more importantly, the data that does get collected is rarely used to inform decisions in real time. 

This is where video and AI can shift safety from a box-ticking exercise to a live risk management tool. When a site walk is captured on video, AI can assess whether key hazards are being considered, whether control measures are visible, and whether the job should move forward. It can prompt additional actions or approvals. 

4. We talk about labour shortages, but not untapped potential

There’s no question the sector is facing pressure on workforce capacity. But what we’re seeing on the ground is that it’s not just about hiring and recruitment, it’s about making better use of the people you already have. 

With the right tools, every job becomes a training opportunity. AI can surface lessons from previous work, highlight recurring risks, and match newer staff with just-in-time coaching. 

Workflows can embed expertise into the flow of delivery, without relying on someone being physically present. This not only improves quality and consistency, but it also allows you to scale without increasing headcount.

5. Supply chain partners are being managed with guesswork

For project owners and lead contractors, one of the hardest things is understanding what’s actually happening on site – especially when the work is being delivered by subcontractors using different tools, reporting styles, and levels of digital maturity. 

Modern field execution tools can standardise how work is documented, tracked, and assessed, regardless of the owner. AI scans for patterns across jobs and contractors, spotting quality issues early and flagging risk trends before they spread. 

6. Most projects are still too slow to respond when things change

Disruption is inevitable in construction, whether it’s weather delays, late materials, workforce constraints, or shifting regulations. Most don’t have the visibility or flexibility to adapt quickly. By the time leaders realise something’s gone off track, the damage is done. 

Real-time intelligence changes that. By using AI to process job data as it’s generated – photos, videos, site notes, permit activity – you can spot blockers immediately and respond in hours, not days. This kind of responsiveness isn’t just a nice-to-have. It’s how you improve margins, protect timelines, and keep trust with stakeholders. 

Where we go from here

AI is a long way from replacing skilled people in this industry. But it can give them sharper tools, clearer context, and faster feedback. It can turn supervision into collaboration. Compliance into foresight. And it can help leaders lead with clarity, not assumption. 

If we want to unlock safer, faster, more scalable field operations, we need to stop working in hindsight and start connecting in real time. I built FYLD to help the construction and infrastructure industries lead from the front, not the rearview mirror. 

By Shelley Copsey, CEO and co-founder of FYLD

FYLD is the AI-powered fieldwork intelligence platform helping infrastructure and construction teams work safer and smarter. FYLD was named to the UK Startups 100 in 2025 for its impact on operational performance, real-time decision-making, and frontline productivity.

Learn more about FYLD

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Holland & Barrett has once again secured a place among the UK’s top ten organisations for customer satisfaction, according to the latest UK Customer Satisfaction Index (UKCSI) published by The Institute of Customer Service.

The health and wellness retailer climbed to 6th in the July 2025 index with a score of 85.4 out of 100, rising from 7th place in January 2025 and significantly improving on its position of 13th just twelve months ago. This marks a sustained year-on-year improvement in customer satisfaction, with Holland & Barrett’s score increasing by 2.3 points since July 2024.

The achievement reflects Holland & Barrett’s ongoing investment in service quality, staff training and personalisation as part of its wider transformation journey to become the trusted partner for health and wellness.

The July 2025 UKCSI shows that customer satisfaction across the UK has risen for the first time in three years, driven by organisations reducing the number of customer problems and improving how they handle issues when they do arise. Nationally, the percentage of customers experiencing a problem has fallen to its lowest level since July 2020.

Anthony Houghton, CEO – UK & Ireland at Holland & Barrett, commented:

“We’re proud to be recognised in the UKCSI top ten. It’s a testament to the hard work and commitment of our colleagues across the business. Their dedication, expertise and care are driving better service every day. Putting customers first is central to our transformation, and this recognition shows we’re heading in the right direction.”

The Institute’s report also highlights that staff being knowledgeable and well-trained is the main reason customers consider their experience dealing with a company to be good or poor. 

Houghton, continued:

“Personalised service has always been part of who we are, but we’re taking it to the next level. We aim for every customer to be greeted and supported based on their individual needs, whether they’re after a quick answer or a detailed wellness consultation.”

“All our colleagues complete a rigorous in-house training programme, externally accredited and delivered over 12 weeks. It totals 25 hours of learning to become ‘qualified to advise’ equipping them with the knowledge and confidence to offer trusted, tailored wellness advice and there is ongoing training throughout the year. This isn’t box-ticking or scripted selling. It’s about genuinely listening, understanding and helping every customer walk away with the right support and not just a product.”

Additionally, over a third of customers (33.5%) are willing to pay more for excellent service – underlining the commercial value of sustained investment in customer experience.

The UKCSI, published twice a year, is the UK’s most comprehensive measure of customer satisfaction, tracking performance across 13 sectors. The July 2025 index saw Holland & Barrett rank alongside other leading brands including First Direct, John Lewis and M&S.

It was a sacred moment that deserved my full attention. But there I was, still juggling Slack and Google Docs.

I didn’t take paternity leave, though I desperately wanted to. As a founder, you don’t have the privilege of an HR department or leave policy. You are the policy, and the risk of stepping back mid-fundraise was something I could not afford. With our series round underway, even a single day away felt like a make-or-break situation. It’s a decision I still wrestle with.

When I look back, I realise what I missed. There is a quiet magic about those sleepless nights hustling, not for a project, but for your child. My partner had her hands full with a newborn and a spouse who wasn’t always there when she needed. As for me, my mind somehow always drifted back to work or my email inbox.

As a founder, taking leave doesn’t just expose you to logistical challenges; it’s an identity crisis. You’re wired to believe that stepping back might slow down momentum or might send the wrong message to investors, or worse, create space for doubt.

The last thing you want is for people to think you’re not “all in.” And you worry — what if things fall apart?

Here’s the harder truth: one has to compromise at times, and things do suffer on the work front. I didn’t burn bridges with investors, but I did lose out on something more precious — time I can never reclaim and moments that my child deserved more than anything.

This equation is all the more complicated for female CEOs. Not only do they have to recover physically, but they also face double the burden of being a leader and a perfect new mother in the same breath.

It’s easier for men to return to work without judgment, but that privilege can be a trap. No one will stop you, but that doesn’t mean you should keep going.

When your partner goes on leave, the pressure also intensifies. As the CEO of a startup, you are forced to be the sole breadwinner of a growing family. There’s no margin for a fallback or slowing down. Success brings the joint responsibility of holding it all together.

The recent “Dad Strikes” in the UK gives us hope that the mindset is changing. The growing calls for six weeks of statutory paternity leave could be revolutionary. Certainly, it’s a step forward, but the startup world is beyond its purview. What startups need is internal self-regulation, and a work culture that permits us to pause.

I didn’t take paternity leave. But the experience left me with a profound lesson if I am lucky enough to be blessed with another one. I want to make that leap of faith, shut my laptop, and live in the moment.

And, above all, I want to remind myself that the title of Dad is as important as founder or CEO. One that isn’t for a quarter or a funding cycle, but for a lifetime.

About Varun Bhanot

Varun Bhanot is Co-founder and CEO of MAGIC AI, the cutting-edge AI mirror that makes high-quality fitness coaching more accessible. Under his leadership, MAGIC AI has raised $5 million in venture funding and earned multiple industry accolades — including being named one of TIME’s Best Inventions of 2024. As a new father as well as founder, Varun shares candid insights on balancing parenting and entrepreneurship in his bi-monthly guest column, Startup Daddy.

Learn more about MAGIC AI

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Last October, TGI Fridays was one of several nationwide chains that fell into administration. However, just eight months after this announcement, the American-style restaurant is ready to hit the hospitality scene again with a major rebrand.

It’s good news for fans Yet TGI Fridays’ comeback comes at a time when the hospitality industry is facing a great amount of turbulence — from the increase in employer National Insurance Contributions (NICs) to severe labour shortages and high staff turnover.

With a promise to bring back the “magic” of the chain, will TGI Fridays be able to navigate this difficult landscape?

TGI Fridays announces “ultimate comeback campaign”

TGI Fridays first opened its doors in Birmingham in 1986. With a mission to bring the US dining experience to Brits, the popular chain soon began expanding to other major locations across the country, including London, Aberdeen, Nottingham, Leeds, and Liverpool.

Unfortunately, like many other restaurant businesses, TGI Fridays struggled post-COVID and during the cost-of-living crisis, The chain previously tried to rebrand to “Fridays” in 2020, but it wasn’t enough to save it, and the brand entered administration in October 2024, announcing the closure of 35 of its restaurants. 

Thankfully, the business was then acquired by private equity firm, Breal Capital and Calveton UK, saving a significant number of its restaurants and workers. 

And last week, TGI Fridays CEO Julie McEwan announced plans to restructure the business. Dubbed the “ultimate comeback campaign”, the restaurant’s rebrand will include a new menu, better customisation for meals such as new topping choices and side swaps, and the reintroduction of candy floss machines and photo booths in select locations.

It will also involve updating its tech to integrate all systems and data, while restaurants will be categorised into hero bars, family destinations and party-led formats. Additionally, new ideas will be tested in both existing and new locations.

“Over the past eight months, we’ve restructured the business, invested in our team, and rebuilt our offer around quality, value and experience,” McEwan told Restaurant Online.

Is the TGI Fridays comeback too soon?

TGI Fridays’ enthusiastic comeback comes at a time when the hospitality industry feels like a battlefield of countless challenges, leading to just 70% of hospitality firms feeling optimistic about the future.

Inevitably, the cost-of-living crisis has led to a significant decrease in people dining out, thus affecting footfall and ultimately, profit margins. According to research by KPMG, eating out was the most common spending cut in 2024, with 72% of consumers eating in instead of out.

Lack of customers is one thing, but staff shortages have only rubbed salt in the wound, being  48% above pre-pandemic levels. Retaining staff is proving to be challenging too, as the average turnover rate for hospitality was 37.6% in 2024 — the highest out of all other sectors.

The UK’s latest regulations for its Skilled Worker visa have also made it difficult for businesses to hire international talent, with certain roles, including bakers, chefs and bar/restaurant management, no longer being eligible for the visa. 

Meanwhile, increases in staffing costs, such as the National Minimum Wage, caused the closure of 3,000 London bars and restaurants last year as firms struggled to pay workers. The British Institute of Innkeeping (Bll) also warned that over 80% of pubs will become unprofitable following the increase in employer NIC contributions.

What does TGI Fridays’ return say about modern hospitality?

TGI Fridays’ rebrand shows a clear need for digital transformation – transforming from an old chain into an innovative and modern establishment that embraces new technologies.

The Startups Workforce Report found that 22% of hospitality businesses report feeling pressured to adopt new technologies. TGI Fridays’ renewed focus on customisation and experience could be a learning curve for SMEs hoping to adopt a similar approach.

At a time when more people are cutting back on dining out, unique experiences can go a long way to ensure both customer attraction and retention.

After all, research from SevenRooms found that 72% of consumers plan to, or have already returned to a restaurant, after a unique experience. Many are also willing to pay extra for personalised experiences, including customised tasting menus (58%), curated appetiser platters (55%) and commemorative menus (51%).

“This is an exciting moment for TGI Fridays – a full brand reset that reinforces everything people have always loved about us,” McEwan continued. 

“TGI Fridays has a rich heritage of bold flavour, high-energy hospitality and unforgettable celebrations – and we’ve gone back to those roots to bring that magic into a new era.”

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SumUp, which has carved a niche for itself among SMEs, is hoping to take advantage of this and bid for a larger share in the hospitality world with its new all-in-one POS device.

While the company does already sell some Point-of-Sale devices like the Solo card reader, it is its app that has widest appeal.

This latest launch, though, is aimed squarely at the professional hospitality market; and specifically businesses looking to scale.

What is SumUp Terminal – and how does it work?

SumUp Terminal is a POS device, which combines a card reader, full POS, ordering system, and receipt printer into a single standalone device.

Retailing at £169 + VAT, it is being marketed as a bridge between simple card readers and what SumUp calls “traditional POS systems”. These, argues Tomer Sabag, Chief Hardware Officer at SumUp, can “…feel too expensive and complex” for some businesses. He says that Terminal instead offers ease as a “perfect next step” for ventures that want to grow.

The new device works on a pay-as-you-use system – with SumUp taking 1.69% per transaction. Beyond taking card payments, here are some of the key features:

• Prints receipts with its built-in thermal printer
• Automatically turns handwritten or printed menus into an editable digital catalogue
• Lets users access sales reports and track business performance with analytics tools
• Each staff member can have their own customised profile with different permissions
• The device has built-in WiFi and a free 4G mobile data connection
• SumUp Terminal’s battery is said to last “all day”

SumUp adds that businesses in the UK and Ireland can also integrate accounting solutions like Xero and QuickBooks.

Why does the retail industry need this now?

SumUp is marketing this solution as cheaper than rivals but a step-up from simple card readers as it also offers inventory and analytical tools.

The company argues that it will allow businesses to scale even while still suffering from rising wage costs, staffing shortages, and changing consumer trends. With none of these issues showing signs of abating, Terminal is being marketed as the easiest way to step up without a huge financial commitment.

SumUp is also promising free, automatic software updates; and is teasing future features including barcode scanning, table management, “and the ability for multiple Terminal devices to sync and operate together in the same venue”.

The ease of setup – alongside the current and upcoming features – might be enough for some businesses but it is probably the price tag that will be the biggest draw.

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When the government announced increases to employer National Insurance Contributions (NICs) last year, it came as a blow to thousands of small businesses and SMEs around the country.

And it seems it’s only going to get worse, as Chancellor Rachel Reeves has hinted at further tax rises for this year’s upcoming Autumn budget.

The warnings come as a survey from Simply Business UK revealed that nearly one million UK SMEs are fearing permanent closure, meaning further tax hikes will inevitably add additional strain to already struggling businesses.

Government hints at tax rises this October

At the start of April, various business tax rises came into effect following what proved to be a disastrous Autumn budget in 2024. These included the increase to employer NICs, as well as hiked capital gains tax and a higher minimum wage.

In just 12 weeks, these have had a detrimental effect on SMEs, to say the least. Many have had to make workplace layoffs, pause hiring, or else freeze salaries and employee benefits to reduce costs.

Data from PA Media found that one-third of UK business owners were planning to make further job cuts due to the impact of the employer NIC increase. 

And while not explicitly stated, Reeves said she wouldn’t rule out tax rises as it would be “irresponsible for a chancellor to do that”. This follows the Government’s U-Turn on its welfare bill last week, which left behind a £5.5bn black hole.

Speaking to The Guardian, Reeves added: “We took the decisions last year to draw a line under unfunded commitments and economic management, so we wouldn’t have to do something like that again. But there are costs to what happened.”

Tax increases could see more businesses closing for good

We could see many businesses closing their doors for good if the government decides to carry out further tax increases.

According to Simply Business’s SME Insights Report, 18% of the UK’s 5.5 million SMEs could close permanently if conditions don’t improve, representing around 990,000 in total.

Unsurprisingly, business confidence has declined steeply as well. 50% of firms expect the economy to worsen, an increase from 25% in 2023. Meanwhile, 24% agree that the government should reverse the employer’s National Insurance increase.

“Costs just keep escalating,” retailer Amanda Burwell told Simply Business. “With minimum wage raised and NI payments now starting from earnings at £5,000, alongside the huge escalation in the cost of electricity, it’s practically impossible to make any profit any more.”

If tax increases are put forward, SMEs may try and fight closure through further cost-cutting measures, potentially leading to more job losses and fewer hiring opportunities. However, if these increases prove to be too intense, complete insolvency may become inevitable, as evidence from the Simply Business report shows.

Is there a light at the end of the tunnel?

Despite the ongoing economic difficulties and worry over the near future, there is still a good level of optimism among small businesses.

The Simply Business report reveals that 57% of firms remain confident overall about their prospects over the next 12 months. 

Encouragingly, our Workforce Report found that a significant proportion of businesses are prioritising growth and innovation over cost-cutting. The most popular strategies include developing new products (52%), customer retention (49%), or entering new markets (52%). 

“In a show of optimism that is so characteristic of this sector, SMEs remain hopeful,” Simply Business UK CEO Julie Fisher said. “As we look ahead, over half of businesses remain confident about their future prospects.

“We must do everything we can to protect, support, and celebrate their spirit and resilience.”

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Aberdeen and Bristol-based subsea technology firm Rosenxt has acquired selected assets and staff from Beam — formerly trading as Rovco — following the company’s entry into administration earlier this year.

Beam, created through the merger of Rovco and Vaarst in 2023, ceased operations in May. The newly announced deal does not represent a wholesale continuation of Beam’s previous business, but rather what Rosenxt describes as a “consolidation of high-value competencies”. The move is intended to strengthen the firm’s capabilities in subsea robotics and engineering as part of a longer-term growth strategy.

“This acquisition strengthens our ability to lead in next-generation subsea technologies, looking at least 10 years ahead,” said Hermann Rosen, chair of Rosenxt. “Beam’s innovative legacy aligns with Rosenxt’s ambitious long-term vision.”

While the precise number of staff transitioning to Rosenxt has not been disclosed, the company confirmed that its focus in the coming months will be on integrating technical capabilities, aligning resources with strategic priorities, and building a foundation for sustainable development.

The company will concentrate efforts across its existing bases in Aberdeen and Bristol, with ambitions to further expand its presence in key markets. Rosenxt has also pledged to bring a renewed sense of stability to partners and personnel affected by Beam’s closure.

“We acknowledge the uncertainty experienced by clients, partners and former employees following Beam’s abrupt closure,” said Dirk van Vinckenroye, general manager at Rosenxt. “With this acquisition, we are laying the groundwork for a new chapter — one that values stability as much as innovation.”

The deal signals continued momentum in the UK’s subsea technology sector, with Aberdeen remaining a central hub for engineering talent and offshore innovation.

High street sales continue to lag and rose just 0.6% last month, compared to a year earlier. This is the sixth month of consecutive below-inflation growth. 

In contrast, ecommerce has enjoyed a healthy 4.3% increase on the same metric with fashion sales boasting a 10% growth. 

For ecommerce businesses now’s the time to double down on performance, marketing, and conversion. But for multichannel brands, the figures suggest it may be time to reassess the role of physical retail in the broader customer journey.

A growing void between channels

Some might have been hoping that the heatwave at the end of June will have forced more of us outside and sent footfall rising. But screens, it seems, won over shop fronts.

Overall, the CBI data shows that consumers are still cautious about their spending; but are opting for online shopping over visiting stores when they do decide to buy. 

The news will not come as a surprise to sellers. June has continued a longer-term trend of falling in-store volumes, which according to the CBI, have been down nine months in a row. 

In September, PwC reported that a total of 6,945 stores have closed in 2024 to date, which was the equivalent to 38 shops per day. 

Among the victims were nationwide brands. Boots announced that it was closing 300 stores, JD Wetherspoons announced it would be putting several of its UK sites up for sale and  Lloyds, Halifax and Bank of Scotland announced plans to close 292 stores by 2025. 

There were also the high street favourites that filed for administration, including TGI Friday, The Body Shop, Ted Baker and Lloyds Pharmacy.

What’s emerging is not just a reflection of economic pressure – but also a structural shift. The agility of ecommerce is proving hard to match. 

Whether it’s reacting to weather, demand spikes, or viral trends, online businesses can pivot quickly. For physical stores, adapting to change is slower and costlier.

How to balance investing in online and offline

While these figures don’t paint an optimistic picture, there are some brands that are riding the storm, if not flourishing. High street stalwart M&S announced a renewal plan, focusing on its convenience stores and concentrating on high footfall locations like hospitals and airports. 

Meanwhile, fashion brand George at ASDA is now chasing Primark’s glory and the supermarket chain is transforming 100 stores to put fashion first and foremost. 

While some of the attributes of ecommerce can’t be replicated in offline stores, experts are pushing for retailers to reinvent their in-store offerings and ensure continuity of experience. Sophie Michael, head of retail and wholesale at BDO told Retail Sector: “…retailers need to continue to invest in blending their physical and online offerings.” 

Everywhere, omnichannel innovation is taking root: Primark introduced a click-and-collect offering that has increased footfall, for example. Waitrose is following M&S’s example and opening new smaller stores; as is Screwfix, which announced it will open up to 35 Screwfix City stores within this financial year. 

Superdrug is instead opting to target the higher end of its market. It plans to open “gold-tier stores” that offer additional services like ear piercing, manicures, and brow threading. 

The shared thread is convenience. Whether because of the location and need for speed, good accessibility and availability, convenience has become the currency of modern retail.

Ultimately, an integrated omnichannel approach – in-store and on ecommerce platforms – offers the speed and scale of ecommerce alongside the experiential and immediate benefits of physical retail. For many, that balance could help them to avoid joining the list of closures. 

The post Shoppers choose screens over high streets despite heatwave appeared first on Startups.co.uk.

The new rules were set to kick in from April 2027, though were actually introduced by the previous government under the Economic Crime and Corporate Transparency Act (ECCTA).

At the moment, smaller businesses are able to file “abridged” or simplified annual accounts. The changes would mean they would have to submit detailed profit and loss accounts, which would be publicly available. Accounts would also have to be submitted in a standardised digital format meaning many companies would have to buy new software.

Last week, the new business secretary confirmed the measures will be ditched. However, this is a pause, not a complete U-turn; and the government is still pushing ahead with the majority of its Making Tax Digital (MTD) mandates. 

Companies House reforms: what were they, and what’s caused the turnaround?

The planned changes had been due to impact businesses with a turnover of less than £10.2m, fewer than 50 employees, and balance sheets below £5.1m. 

Thankfully, these companies have escaped the rollout. They will be able to continue filing as usual and will not need to buy commercial digital software. It also means that key financial information like their operating costs and turnover won’t be made public as yet.  

The move comes from business secretary, Jonathan Reynolds, who has listened to mounting concern that the reforms would cause a red tape pile-up for SMEs as well as unwanted costs. This has been deemed enough of an issue that Reynolds has pushed the concerns about fraud to the side instead focussing on growth. 

It also reflects a wider government pledge to cut administrative costs for businesses after dire warnings that UK entrepreneurism is on the slide. In March, new business registrations dropped for the first time since quarterly reporting began. 

While it was the National Insurance Contributions (NICs) and National Minimum Wage hikes that were firmly blamed, there has also been growing discontent about the administrative and compliance burdens that companies face. 

With this move, the government will be hoping to quieten these concerns and boost growth. 

Is this a win or a stay of execution?

It is a win but it is temporary and for a very select group of businesses. The government is still pushing ahead with its Making Tax Digital mandates for sole traders. This means that you will still need to buy accountancy software for April 2026 if you are a sole trader earning more than £50,000. Those earning £30,000 or more get another year on top of this.  

There has also been no roll-back on the proposed changes to ID rulings that came under the ECCTA. This impacts how directors register with Companies House; and includes mandatory ID checks for directors and people with significant control (PSCs), stricter filing restrictions, and financial penalties for non-compliance. 

Jonathan Frost, Director of Global Advisory for EMEA at BioCatch questions how effective this change will be and welcomes the decision to pause on the SME accountancy reform. He shares: “While the ECCTA will require ID verification from this autumn, its actual effectiveness remains unclear, especially for companies controlled by individuals abroad.” 

The reprieve for small businesses, he argues, indicates that the government has recognised this change will stop misuse. “Until Companies House performs know-your-customer checks to the same standard as banks, it will continue to contribute to UK fraud,” he argues.

However, says Meg Ogunsola, Global Director of Entity Management Solutions at Vistra, companies shouldn’t just sit back now. This is a pause, she argues, and “…the ECCTA remains critical in the UK’s fight against fraud”. 

As she argues, the government is trying to balance “protecting and overburdening firms” – especially tricky in a time of high inflation and economic uncertainty. 

But that’s not to say that it will continue on a path of deregulation and so companies need to see this for what it is – a temporary reassessment and not a clear mandate for the future. 

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